Connors Investor Services Inc. Lowers Stake in Roblox Co. (NYSE:RBLX)

Connors Investor Services Inc. decreased its position in Roblox Co. (NYSE:RBLX) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,000 shares of the company’s stock after selling 1,000 shares during the quarter. Connors Investor Services Inc.’s holdings in Roblox were worth $3,780,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in RBLX. Vanguard Group Inc. lifted its stake in Roblox by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock worth $1,950,322,000 after acquiring an additional 4,818,022 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Roblox by 3.1% in the first quarter. Baillie Gifford & Co. now owns 28,607,151 shares of the company’s stock valued at $1,092,221,000 after purchasing an additional 867,805 shares during the period. Ieq Capital LLC grew its holdings in shares of Roblox by 27.6% in the first quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock valued at $473,811,000 after purchasing an additional 2,684,713 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Roblox by 9.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,493,091 shares of the company’s stock worth $324,266,000 after buying an additional 764,481 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Roblox by 195.1% during the 4th quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock worth $357,043,000 after buying an additional 5,162,833 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Michael Guthrie sold 22,076 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total value of $718,794.56. Following the completion of the transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at approximately $12,198,050.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $35.08, for a total transaction of $456,040.00. Following the completion of the transaction, the director now directly owns 9,747,603 shares of the company’s stock, valued at approximately $341,945,913.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Guthrie sold 22,076 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total value of $718,794.56. Following the sale, the chief financial officer now owns 374,633 shares in the company, valued at approximately $12,198,050.48. The disclosure for this sale can be found here. In the last three months, insiders sold 476,889 shares of company stock worth $17,506,145. Company insiders own 22.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RBLX shares. Wolfe Research assumed coverage on Roblox in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on Roblox from $55.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Benchmark cut their target price on shares of Roblox from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Wells Fargo & Company boosted their target price on shares of Roblox from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. Finally, BTIG Research dropped their price objective on Roblox from $54.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox has a consensus rating of “Moderate Buy” and a consensus target price of $42.59.

Roblox Price Performance

Shares of RBLX traded up $0.73 during mid-day trading on Friday, hitting $40.52. The company’s stock had a trading volume of 4,053,912 shares, compared to its average volume of 5,269,387. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 16.04. Roblox Co. has a 1-year low of $24.88 and a 1-year high of $47.20. The firm has a market capitalization of $23.96 billion, a P/E ratio of -21.78 and a beta of 1.59. The firm has a 50-day simple moving average of $35.90 and a 200 day simple moving average of $38.12.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, May 9th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.10. Roblox had a negative net margin of 39.19% and a negative return on equity of 1,110.40%. The company had revenue of $923.76 million for the quarter, compared to analyst estimates of $918.85 million. During the same period in the previous year, the firm earned ($0.44) EPS. The business’s revenue was up 19.4% on a year-over-year basis. Analysts predict that Roblox Co. will post -1.67 EPS for the current fiscal year.

Roblox Profile

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.